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J. Jill Inc (NYSE:JILL) reported better-than-expected earnings and sales results for the second quarter on Wednesday, but lowered 2024 forecast.
The company posted a second-quarter sales decline of 0.9% year-over-year to $155.24 million, beating the analyst consensus estimate of $154.23 million. Total company comparable sales increased by 1.7%. Direct-to-consumer net sales climbed 3.6% Y/Y, constituting 47.1% of total sales. Adjusted EPS of $1.05 beat the consensus of 91 cents.
"While we have seen changes in consumer behavior during the summer months which has extended into the start of the third quarter and reflected in our updated guidance, we are continuing to operate the business with great discipline and continue to realize healthy margin performance and deliver significant cash flow generation,” commented Claire Spofford, President and Chief Executive Officer.
The company lowered its 2024 guidance, expecting net sales to be about flat to up 1% (prior view 1% – 3% growth) compared to fiscal 2023, with Adjusted EBITDA declining by 4% to 9% (prior view 1% – 3% decline).
J.Jill shares fell 1.6% to trade at $26.36 on Thursday.
These analysts made changes to their price targets on J.Jill following earnings announcement.
Considering buying JILL stock? Here’s what analysts think:
Posted In: JILL